The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency (hereinafter KOCCA) joined forces with KB Kookmin Bank on the 16th to ink a financial support agreement for K-content enterprises.

Under this arrangement, KB Kookmin Bank is set to contribute a total of 2 billion KRW—split evenly between the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation—to bolster credit guarantees for SMEs in the cultural content sector. The scheme aims to unleash roughly 100 billion KRW in guarantee certificates. To take the sting out of fees, they are also offering a 1.0%p subsidy over a two-year period.

KOCCA plans to act as a scout for top-tier content firms, connecting them directly with the bank to ensure this financial lifeblood actually reaches those who need it most.

Yoo Hyun-seok, acting president of KOCCA, remarked, "We have been steadily expanding our financial support systems by listening to the industry to ensure that creative sparks translate into real-world results." He added, "Through this pact, I hope our small and medium-sized content players can take bolder risks, securing a sustainable engine for K-content to thrive on the global stage."